Jesus Serrano
July 14, 2025
The Eurozone is about to welcome its 21st member state
This video is part of: Centre for Financial and Monetary Systems
Bulgaria is expected to adopt the Euro from January 2026. It will replace the Lev, which has been Bulgaria’s official currency since 1881. The European Commission greenlit the move in early June. Like all potential Eurozone members, Bulgaria had to meet several requirements slso known as the ‘convergence criteria’.
The Eurozone is preparing to welcome its 21st member. Bulgaria is on track to adopt the Euro in January 2026, replacing the Lev, its national currency since 1881.
Meeting strict criteria for Euro adoption
To qualify, Bulgaria had to meet the EU's convergence criteria. These include maintaining stable inflation, sound public finances, low long-term interest rates, and spending at least two years in the exchange rate mechanism without major disruptions.
Benefits and concerns of Eurozone membership
The European Commission emphasizes that joining the Eurozone offers economic stability, reduces exchange rate risks, and boosts trade and investment. These changes are expected to benefit Bulgarian consumers and the broader economy.
However, public opinion is divided. Half of Bulgarians oppose the switch, fearing it could trigger price hikes. Yet studies show that such inflation, if it occurs, is usually mild and short-lived.
Broader context of economic integration
While Bulgaria moves toward deeper EU integration, global cooperation has slightly declined. Despite this, economic fragmentation poses risks, with potential GDP losses of up to 7%.
Watch the video to learn more about Bulgaria’s Eurozone journey and what it means for its future.
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